The Prospector News

OceanaGold reports exploration results at Haile

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

OceanaGold reports exploration results at Haile

 

 

 

 

 

OceanaGold Corporation (TSX: OGC) (ASX: OGC) is pleased to announce an update on exploration activity at the Company’s Haile gold mine in South Carolina, U.S.A. This exploration update follows the update provided to the market on 8 November 2017 (“November update”) and results herein reflect activity completed after this date.

 

 

Selection of significant drill results within and/or adjacent to pit designs

 

  • 46.6 metres @ 4.93 g/t between Ledbetter and Snake
  • 32.3 metres @ 10.14 g/t at Mill Zone
  • 77.7 metres @ 4.04 g/t at upper Ledbetter
  • 21.3 metres @ 4.51 g/t at Red Hill
  • 45.1 metres @ 1.17 g/t between Mill Zone and Mustang

 

 

Mick Wilkes, President and CEO of OceanaGold said, “I am very pleased to announce the results of brownfields drilling at Haile over the past nine months that are expected to add more low-cost ounces to our reserves.  These results demonstrate the potential for additional mineralisation close to surface between current pit designs and at depth. Comprehensive geological reassessment from mapping and core logging has identified important structural controls that are being applied to our 3D models which will play a critical role in ongoing and future target generation.  Haile’s exploration team is also driving innovative modelling for emerging geophysical targets that will be pursued in 2019.”

 

 

“Since acquiring the Haile Gold Mine in late 2015, we have delivered a 70% increase in reserves and, through our exploration program, we continue to learn more about the genesis of the mineralisation. Through this greater understanding, we are improving our mine planning and design which fits well with our continued focus on improving productivities and reducing costs.”

 

 

“In addition to exploration, the Company continues to advance the expansion of the process plant with the pebble crusher now fully constructed and commissioned. The Tower and Isa Mills, critical processing equipment for the expansion and recovery enhancement, are scheduled for completion in the first quarter of 2019.”

 

 

Since the last exploration update on November 8, 2017, the Company has drilled 100 drill holes for a combined 26,149 metres at Haile using four surface diamond drills. Resource infill and extension drilling has targeted low-cost reserve growth areas in and around the Ledbetter, Mustang, Mill Zone, Snake, Red Hill, and Haile deposits (Figure 1).

 

 

Favourable extension drill results are expected to add ore-grade mineralisation between pit designs at low strip ratios (Table 1). Pit designs will likely be merged between the Mill Zone/Mustang (e.g. DDH0715: 45.1m @ 1.17 g/t from 91.9m) and Ledbetter/Snake pit designs (e.g. DDH0669: 46.6m @ 4.93 g/t from 243.8m). Drilling below the northwest wall of the Mill Zone Phase 1 pit returned positive results and a Phase 2 layback design is in progress (e.g. DDH0736: 32.3m @ 10.14 g/t from 59.6m).

 

 

Infill and delineation drilling continue to support our models and robust mineralisation, notably in the upper Ledbetter area (e.g. DDH0678: 77.7m @ 4.04 g/t from 173.2m and DDH0771: 75.9m @ 1.57 g/t from 203.1m) (Figures 1 & 2). Shallow, medium-grade drill intercepts have been confirmed in diamond holes at Red Hill which is scheduled for mining in 2019 (e.g. DDH0805: 21.3m @ 4.51 g/t from 54.0m) (Figure 1). An 18-hole diamond drill program was conducted outside the reserve pit design at the Snake West extension and returned positive results (e.g. DDH0755: 64.8m @ 0.97 g/t from 198m) (Figures 3 and 4). Further drilling is planned in the second half of 2018 at Ledbetter, Mill Zone and Snake.

 

 

Assays received from delineation drilling continue to validate high-grade, continuous mineralisation at the Horseshoe underground deposit (e.g. DDH0609: 233.5m @ 2.87 g/t from 168.6m).

 

 

Table 1 – Significant Drill Hole Intercepts from November 2017 To July 2018

 

 

Drill Hole ID East
NAD83Z17N
(m)
North
NAD83Z17N
(m)
Collar RL
(m)
Az Dip From
(m)
To
(m)
Width
(m)
Gold
Grade
(g/t)
Project
DDH0763 542037 3826320 126 219 -40 49.3 99.2 49.9 0.77 Haile
DDH0765 542037 3826320 126 145 -45 35.5 58.2 22.7 1.99 Haile
DDH0609 543593 3826925 154 0 -90 168.5 402.0 233.5 2.87 Horseshoe
DDH0611 543535 3827016 159 180 -76 405.1 427.1 22.0 1.76 Horseshoe
DDH0666 542779 3826865 140 126 -62 218.1 233.3 15.2 3.75 Ledbetter
DDH0672 542779 3826865 140 149 -63 120.8 139.1 18.3 2.00 Ledbetter
DDH0678 542585 3826899 147 172 -54 173.2 250.9 77.7 4.04 Ledbetter
DDH0744 542744 3826842 140 159 -50 144.0 185.1 41.2 1.16 Ledbetter
DDH0744 542744 3826842 140 159 -50 209.5 244.5 35.1 1.13 Ledbetter
DDH0747 542744 3826842 140 30 -85 222.0 239.6 17.6 2.86 Ledbetter
DDH0749A 542402 3826829 150 193 -71 252.3 275.2 22.9 3.14 Ledbetter
DDH0749A 542402 3826829 150 193 -71 287.0 321.8 34.8 0.97 Ledbetter
DDH0752 542520 3826856 143 165 -65 105.9 142.7 36.8 3.25 Ledbetter
DDH0756 542542 3827061 156 145 -57 196.8 213.5 16.7 7.26 Ledbetter
DDH0756 542542 3827061 156 145 -57 264.6 342.6 78.0 1.57 Ledbetter
DDH0758 542542 3827061 156 157 -56 274.3 332.6 58.3 1.54 Ledbetter
DDH0771 542676 3826926 152 132 -79 203.1 279.0 75.9 1.57 Ledbetter
DDH0786 542822 3826854 138 141 -74 207.3 221.5 14.2 5.40 Ledbetter
DDH0787 542638 3827052 155 133 -74 270.1 306.6 36.6 0.89 Ledbetter
DDH0703 541546 3826703 157 155 -48 275.3 283.3 8.0 12.11 Mill Zone
DDH0704 541427 3826258 147 99 -48 144.5 170.2 25.7 1.06 Mill Zone
DDH0710 541569 3826674 156 164 -40 263.7 277.4 13.7 5.84 Mill Zone
DDH0715 541948 3826788 147 179 -47 91.9 137.0 45.1 1.17 Mill Zone
DDH0723 541569 3826674 156 157 -48 257.0 264.5 7.6 3.39 Mill Zone
DDH0725 541352 3826432 155 125 -57 221.7 230.6 8.9 3.44 Mill Zone
DDH0729 541730 3826453 60 0 -90 0.6 41.7 41.1 2.00 Mill Zone
DDH0731 541696 3826458 60 336 -68 7.8 70.8 63.0 4.37 Mill Zone
DDH0732 541652 3826398 60 317 -45 5.8 29.2 23.4 4.49 Mill Zone
DDH0743 541345 3826412 155 105 -40 234.6 251.4 16.8 2.05 Mill Zone
DDH0743 541345 3826412 155 105 -40 257.5 295.6 38.1 1.61 Mill Zone
DDH0762 541474 3826587 155 134 -40 249.2 267.8 18.6 5.39 Mill Zone
DDH0730 541419 3826550 154 115 -40 255.9 271.1 15.2 4.20 Mill Zone
DDH0736 541681 3826430 60 314 -55 59.6 91.9 32.3 10.14 Mill Zone
DDH0739 541625 3826321 60 275 -44 26.0 40.6 14.6 5.01 Mill Zone
DDH0751 541984 3826480 132 322 -77 71.8 86.4 14.6 1.98 Mill Zone
DDH0751 541984 3826480 132 322 -77 117.8 151.3 33.5 0.78 Mill Zone
DDH0669 542779 3826865 140 109 -54 243.8 290.5 46.6 4.93 Mustang
DDH0674 542779 3826865 139 204 -82 224.8 235.3 10.5 4.06 Mustang
DDH0716 542387 3826937 153 159 -70 253.4 297.7 44.3 1.14 Mustang
DDH0717 542553 3827097 155 121 -61 293.0 334.2 41.2 0.81 Mustang
DDH0803 542602 3826262 145 0 -90 26.5 63.1 36.6 2.33 Red Hill
DDH0805 542579 3826276 145 0 -90 54.0 75.3 21.3 4.51 Red Hill
DDH0806 542659 3826278 145 0 -90 59.0 70.7 11.8 2.60 Red Hill
DDH0807 542626 3826263 151 0 -90 41.6 55.2 13.6 4.60 Red Hill
DDH0792 543041 3826690 111 165 -50 193.4 204.3 10.9 2.32 Snake
DDH0742 542953 3826934 139 142 -56 234.5 249.0 14.5 1.89 Snake Pit
DDH0746 543148 3826726 131 164 -65 88.8 116.9 28.1 4.43 Snake Pit
DDH0773 543117 3826572 120 150 -71 63.3 84.6 21.3 1.19 Snake Pit
DDH0685 542758 3826647 137 163 -67 268.1 323.7 55.6 1.04 Snake West
DDH0693 542870 3826712 141 120 -57 143.0 161.9 18.9 10.95 Snake West
DDH0698 542871 3826675 143 100 -84 305.7 362.8 57.1 0.81 Snake West
DDH0698 542871 3826675 143 100 -84 55.6 67.7 12.1 2.41 Snake West
DDH0705 542871 3826675 143 139 -64 247.3 305.2 57.9 0.82 Snake West
DDH0720 542821 3826543 144 143 -60 228.4 267.0 38.6 1.43 Snake West
DDH0726 542851 3826578 145 133 -53 244.1 273.0 29.0 1.03 Snake West
DDH0726 542851 3826578 145 133 -53 73.3 144.9 71.6 0.51 Snake West
DDH0728 542851 3826578 145 144 -65 239.0 260.7 21.7 1.07 Snake West
DDH0733 542890 3826424 156 99 -78 147.6 172.7 25.1 1.36 Snake West
DDH0741 542758 3826647 137 143 -68 317.5 353.2 35.7 0.74 Snake West
DDH0755 542758 3826647 137 163 -67 198.0 262.8 64.8 0.97 Snake West
DDH0759 542809 3826648 139 119 -65 230.2 305.4 75.2 0.89 Snake West
DDH0760 542837 3826519 147 134 -58 175.8 178.2 2.4 11.91 Snake West
DDH0760 542837 3826519 147 134 -58 203.1 227.8 24.7 1.03 Snake West

 

 

 

All drill hole data and additional information in relation to the Haile Gold Mine can be found on the Company’s website at http://www.oceanagold.com/investor-centre/filings/. In line with ASX listing requirements, OceanaGold has appended the information required by JORC Table 1 for Haile Exploration Results to its ASX announcement. JORC Table 1 is not required under National Instrument 43-101. Readers are referred to the ASX website at www.asx.com.au or the OceanaGold website at www.oceanagold.com to view JORC Table 1.

 

 

About OceanaGold

 

 

OceanaGold Corporation is a mid-tier, high-margin, multinational gold producer with assets located in the Philippines, New Zealand and the United States. The Company’s assets encompass the Didipio Gold-Copper Mine located on the island of Luzon in the Philippines. On the North Island of New Zealand, the Company operates the high-grade Waihi Gold Mine while on the South Island of New Zealand, the Company operates the largest gold mine in the country at the Macraes Goldfield which is made up of a series of open pit mines and the Frasers underground mine. In the United States, the Company operates the Haile Gold Mine, a top-tier, long-life, high-margin asset located in South Carolina. OceanaGold also has a significant pipeline of organic growth and exploration opportunities in the Americas and Asia-Pacific regions.

 

 

OceanaGold has operated sustainably over the past 27 years with a proven track-record for environmental management and community and social engagement. The Company has a strong social license to operate and works collaboratively with its valued stakeholders to identify and invest in social programs that are designed to build capacity and not dependency.

 

 

In 2018, the Company expects to produce 500,000 to 540,000 ounces of gold and 15,000 to 16,000 tonnes of copper with All-In Sustaining Costs that range from $725 to $775 per ounce sold.

 

 

Competent/Qualified Person’s Statement 

 

 

The exploration results were prepared in accordance with the standards set out in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ and in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. The JORC Code is the accepted reporting standard for the Australian Stock Exchange Limited.  

 

 

Information relating to Haile exploration results in this document has been verified by, is based on and fairly represents information compiled by or prepared under the supervision of John Jory, a Certified Professional Geologist and Member of the American Institute of Professional Geologists and an employee of OceanaGold. Mr Jory has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the JORC Code and is Qualified Persons for the purposes of the NI 43 101. Mr Jory consents to the inclusion in this public report of the matters based on their information in the form and context in which it appears.

 

Posted August 16, 2018

Share this news article

MORE or "UNCATEGORIZED"


Canarc Resource Options Its Fondaway Canyon and Dixie Comstock Properties in Nevada to Getchell Gold

Canarc Resource Corp. (TSX:CCM) (OTCQB:CRCUF) (Frankfurt:CAN) ann... READ MORE

October 17, 2019

Infill Drilling at San Albino Intersects 59.48 g/t Gold Over 2.1 Meters (estimated True Width) Five Meters from Surface

Mako Mining Corp. (TSX-V: MKO) is pleased to report further posit... READ MORE

October 17, 2019

Surge Acquires an Option to Purchase a 100% Interest in a Polymetallic Silver, Copper, Lead, Zinc Deposit in British Columbia Canada

Surge Exploration Inc. (TSX-V: SUR) (OTC: SURJF) (FRA: DJ5C... READ MORE

October 17, 2019

Fiore Gold Meets Full Year 2019 Production Guidance

FIORE GOLD LTD. (TSX-V: F) (OTCQB: FIOGF) is pleased to announce ... READ MORE

October 17, 2019

Marathon Gold Reports Additional Drill Results from Marathon Deposit at Valentine Gold Project, NL

Marathon Gold Corporation (TSX: MOZ) is pleased to report an addi... READ MORE

October 17, 2019

Copyright 2019 The Prospector News - Site design by Spyderbaby Productions